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Goldman Sachs will provide customers with access to Bitcoin futures

ICO-LINK-NEWS-Goldman-Sachs-will-provide-customers-with-access-to-Bitcoin-futures

According to anonymous source from Bloomberg, Goldman Sachs will clear the futures contracts for Bitcoins for its customers, when the futures markets will be launched on December 10 at the CBOE and on December 18 at the CME. This is an important stage for the Cryptocurrency industry, as the futures markets will provide access to the cryptocurrency-loans to customers of large banks and brokerage firms. If this information is confirmed, the pessimistic attitude of traditional market players to cryptocurrency-derivatives will begin to change, and their support will become a competitive advantage.

In addition to Goldman Sachs with Bitcoin futures, brokerage firms TD Ameritrade, Ally Invest and even the eternal opponent of Bitcoin JP Morgan Chase, which is considering the possibility of providing Bitcoin futures to customers, will also work.An anonymous source also said that he "knows the plans of the company" and said that Goldman Sachs will offer customers transactions on an individual basis. 

Goldman spokeswoman Tiffany Galvin wrote: 

"Given that this is a new product, as expected we are evaluating the specifications and risk attributes for the bitcoin futures contracts as part of our standard due diligence process."

Goldman CEO Lloyd Blankfein is reportedly cautious, but open to the idea of Bitcoin, unlike many of his banking counterparts such as Jamie Dimon. Blankfein has written: 

"I read a lot of history, and I know that once upon a time, a coin was worth $5 if it had $5 worth of gold in it. Now we have paper that is just backed by fiat...Maybe in the new world, something gets backed by consensus."

 Goldman Sachs is considered one of the most elite investment banks in the world, attracting the best finance experts and the wealthiest clients. The firm is also known for its "revolving door" - wherein Goldman executives move back and forth from the bank to government service and back again. In fact, the process is so entrenched that the bank is sometimes referred to as "Government Sachs."

Goldman executives-turned-government-employees include Treasury Secretary Steve Mnuchin and Deputy Treasury Secretary James Donovan. President George W. Bush appointed former Goldman CEO Hank Paulson as his Treasury Secretary. The revolving door of Goldman appointees in government gives bankers from the firm a great deal of influence in the development of policy and regulations.

2
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